Horizon Global Corp (HZN) is Initiated by Wells Fargo to “Market Perform”

Horizon Global Corp (HZN) was Initiated by Wells Fargo to “Market Perform”. Wells Fargo advised their Clients and Investors in a research report released on Feb 21, 2017.

On the company’s financial health, Horizon Global Corp reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $0.28. The company had revenue of $151.72 million for the quarter, compared to analysts expectations of $154.45 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.50 EPS.

Several company insiders have filed Insider transactions , on Nov 8, 2016, Richard L Devore (director) sold 2,600 shares at $20.43 per share price. According to the SEC, on Nov 18, 2015, Richard D Siebert (director) purchased 2,000 shares at $8.30 per share price. On Nov 16, 2015, Samuel Iii Valenti (director) purchased 10,000 shares at $8.96 per share price, according to the Form-4 filing with the securities and exchange commission.

Horizon Global Corp opened for trading at $19.14 and hit $19.43 on the upside on Friday, eventually ending the session at $19.3, with a gain of 0.78% or 0.15 points. The heightened volatility saw the trading volume jump to 1,31,416 shares. Company has a market cap of $481 M.

Horizon Global Corporation is a designer manufacturer and distributor of a range of custom-engineered towing trailer and cargo management products and other accessories. The Company operates through two segments: Cequent Americas which focuses on the North and South American markets and Cequent APEA which focuses on its sales and manufacturing in the Asia Pacific Europe and Africa regions of the world. Its Cequent Americas segment is a manufacturer and provider of aftermarket and original equipment manufacturer (OEM) towing and trailer products and accessories and towing trailer vehicle protection and cargo management solutions. Its products are designed to support OEMs original equipment suppliers’ retail and aftermarket customers within the agricultural automotive construction horse or livestock industrial marine military recreational trailer and utility markets. Its products are used in commercial applications and recreational activities.

Horizon Global Corp

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